Larry Baylies / Synergy Capital Mortgage Corp./Wachovia Bank Synergy Capital - the actual final loan is not even closed what they promised!!! Sab Juan Capistrano California

Since the Fed is cutting the interest rate, it is great for refinance your mortgage especially you have an interest only loan. I called the number on a flyer in my mail, and I thought that I got the best deal. I only had two requirements on ht new loan: 1. no more interest rate only loan, 2. no pre-pay penalty. After two and half months, I was quoted as:
> The bank is offering two programs to you both are great!
> Which would you like, see below and let me know if you have any >questions.
> Personally I think the 1st program is the best savings, lowest margins:
>
> a. 3.7 fixed with a margin of 3.1. This means her payment the first year is
> 2092, 2nd year is 2894.00, 3rd year, is 3111.00, 4th is 3345.00, 5th is
> 3595.00
> or
> b. 5.25 fixed payment 3230.00

Since I plan to sell my house in the next three years, I pick #a. Guess what?? My monthly payment is $4400 if I want to pay off $350 principle. Plus, I have a three years pre-pay penalty. And guess what??? Wachovia is the lender!!! It's my fault that I didn't do my homework and do a little research on Wachovia. My advice is: don't believe those brokers. They are worse than used car salesmen.

Jenny
Buellton, California
U.S.A.